FHFA Claims Over $5B In MBS Time-Barred, Barclays Says

Law360, New York (August 21, 2012, 7:44 PM EDT) -- Barclays Bank PLC asked a New York federal judge Friday to toss the Federal Housing Finance Agency's suit over $4.9 billion in purportedly shoddy mortgage-backed securities sold to Fannie Mae and Freddie Mac, arguing some of the agency's claims may be time-barred.

The FHFA may be time-barred from pursuing claims against Barclays because several of the securitizations at the heart of the suit were downgraded before September 2007, a full year before the FHFA took the loan agencies into conservatorship, the bank said in a motion...
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